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作者：Dou, Yiwei; Wong, M. H. Franco; Xin, Baohua
作者单位：New York University; University of Toronto
摘要：We test for changes in investment efficiency around a shock to financial reporting quality-the adoption of SFAS No. 123R, which requires that employee stock option (ESO) costs be recognized rather than disclosed at fair value. We predict and find a reduction in underinvestment for firms heavily affected by the new standard, and these firms exhibit a decrease in the bid-ask spread and an increase in new capital raised in the post-SFAS No. 123R period. The reduction in underinvestment is more pr...
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作者：Adida, Elodie; Ozer, Ozalp
作者单位：University of California System; University of California Riverside; University of Texas System; University of Texas Dallas
摘要：Markdown as a pricing modality is ubiquitous in retail whereas everyday low price (EDLP) remains relatively rare (despite its several advantages, such as simplicity). This paper explores whether and why retailers can use either of these pricing modalities as an effective defense against a competitor entering the market with the alternative pricing modality. Various studies have shown that consumers are strategic and heterogeneous in their valuation of a product. Consumers are also shown to be ...
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作者：Adjerid, Idris; Acquisti, Alessandro; Loewenstein, George
作者单位：University of Notre Dame; Carnegie Mellon University
摘要：For consumers, managing privacy online requires navigating a complex process of interrelated choices. This process may be conceived of as cascaded, in that a combination of upstream choices (e.g., of privacy settings on a social network site) and downstream choices (e.g., of what to reveal on the site) together determine ultimate privacy outcomes. In a series of experiments, we examine the potential impact of choice architecture in cascaded privacy choice settings. We investigate how changes i...
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作者：Gee, Laura K.
作者单位：Tufts University
摘要：This paper presents the results from a 2.3-million-person field experiment that varies whether or not a job seeker sees the number of applicants for a job posting on a large job-posting website, LinkedIn. This intervention increases the likelihood that a person will finish an application by 3.5%. Women have a larger increase in their likelihood of finishing an application than men. Overall, adding this information to a job posting may offer a light-touch way to both increase application rates ...
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作者：Dong, Jing; Yom-Tov, Elad; Yom-Tov, Galit B.
作者单位：Columbia University; Technion Israel Institute of Technology
摘要：We investigate the impact of delay announcements on the coordination within hospital networks using a combination of empirical observations and numerical experiments. We offer empirical evidence that suggests that patients take delay information into account when choosing emergency service providers and that such information can help increase coordination in the network, leading to improvements in the performance of the network, as measured by emergency department wait times. Our numerical res...
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作者：Tsoukalas, Gerry; Wang, Jiang; Giesecke, Kay
作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University
摘要：We analyze the optimal execution problem of a portfolio manager trading multiple assets. In addition to the liquidity and risk of each individual asset, we consider cross asset interactions in these two dimensions, which substantially enriches the nature of the problem. Focusing on the market microstructure, we develop a tractable order book model to capture liquidity supply/demand dynamics in a multiasset setting, which allows us to formulate and solve the optimal portfolio execution problem....
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作者：Chen, Xin; Gao, Xiangyu; Hu, Zhenyu; Wang, Qiong
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Chinese University of Hong Kong; National University of Singapore; National University of Singapore
摘要：A newsvendor game allows the players to collaborate on inventory pooling and share the resulting total cost. There are several possible ways to allocate the cost. Previous studies have focused on the core of the game. It is known that the core of the newsvendor game is nonempty, and one can use duality theory in stochastic programming to construct an allocation-referred to as the dual-based allocation-belonging to the core. Yet, an allocation that lies in the core does not necessarily guarante...
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作者：Gao, Long; Mishra, Birendra K.
作者单位：University of California System; University of California Riverside
摘要：Real markets evolve over time. They often exhibit complex behaviors, such as autocorrelation, continuity, and nonstationarity. How do these behaviors affect channel contracting? We study the problem in a bilateral channel where the retailer has private information on evolving market conditions. We characterize the optimal contract under arbitrary market evolution. The central notion is market inertia: it prices retailer's information advantage, dictates price and quantity response over time, a...
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作者：Hong, Fuhai; Huang, Wei; Zhao, Xiaojian
作者单位：Lingnan University; Nanyang Technological University; Chinese University of Hong Kong; The Chinese University of Hong Kong, Shenzhen; Monash University
摘要：The sunk cost effect has been widely observed in individual decisions. Building on an intrapersonal self-management game, the paper theoretically shows that the sunk cost effect may stem from an attempt to overcome the underinvestment problem associated with a high degree of present bias or to resolve the multi-selves coordination problem when the degree of present bias is low. Especially for individuals with severe present bias, the current self may take a costly action (which is a sunk cost ...
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作者：Basu, Amit; Bhaskaran, Sreekumar; Mukherjee, Rajiv
作者单位：Southern Methodist University
摘要：Compared to offline matching markets, online matching platforms improve search in the matching process but at the same time increase the problem of authenticating the features and credentials of prospective matches. This paper examines the interplay between these two processes in online matching, using game-theoretic models. We examine whether an online matching platform should target a broad market of match-seekers or an exclusive group of high-value match-seekers, and how the platform should...
